A United Nations study has revealed that the ongoing trade war between the US and China will benefit the Indian economy as it will increase the country’s exports by 3.5 percent. At the same time, the EU will have the most benefit, with an additional $ 70 billion in turnover.
The Monday report of UN Conference on Trade and Development (UNCTAD) said that the tariff war between Washington and Beijing would be advantageous to many countries, including Australia, Brazil, India, Philippines, Pakistan, and Vietnam are prominent. The report titled ‘The Trade Wars: The Pain and the Gain’ states, “Bilateral tariffs change global competitiveness for the benefit of working firms in those countries, which are not directly affected by them.”
This study said that European exports will benefit from $ 70 billion, while in Japan, Canada and Mexico, each will benefit from $ 20-20 billion. The UNCTAD report said, “America-China tension is expected to benefit more from those countries which are more competitive and have the economic potential to replace American and Chinese companies.” UNCTAD International Trade Head Pamela Coca- Hamilton said in a press conference, “It will have a big impact and negatively impact on the entire international business system.